(See also: Cityneon receives 90 cents per share pre-conditional offer from Lucrum 1)
SINGAPORE (May 15): DBS is maintaining its “buy” call on Cityneon with a target price of $1.26 with the possibility of new shareholders coming in to help the events and exhibitions organiser pursue growth, including acquisition of a third Intellectual Property (IP) rights.
Last Friday, Cityneon’s controlling shareholder, Star Media Group, announced it has entered into a conditional sale and purchase agreement with Lucrum 1 Investment, a special-purpose vehicle, to dispose of its entire 52.51% stake in Cityneon for $115.6 million in cash.
